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131 STAT. 2132 PUBLIC LAW 115–97—DEC. 22, 2017 SEC. 13310. PROHIBITION ON CASH, GIFT CARDS, AND OTHER NON- TANGIBLE PERSONAL PROPERTY AS EMPLOYEE ACHIEVEMENT AWARDS. (a) IN GENERAL.—Subparagraph (A) of section 274(j)(3) is amended— (1) by striking ‘‘The term’’ and inserting the following: ‘‘(i) IN GENERAL.—The term’’. (2) by redesignating clauses (i), (ii), and (iii) as subclauses (I), (II), and (III), respectively, and conforming the margins accordingly, and (3) by adding at the end the following new clause: ‘‘(ii) TANGIBLE PERSONAL PROPERTY.—For purposes of clause (i), the term ‘tangible personal property’ shall not include— ‘‘(I) cash, cash equivalents, gift cards, gift cou- pons, or gift certificates (other than arrangements conferring only the right to select and receive tan- gible personal property from a limited array of such items pre-selected or pre-approved by the employer), or ‘‘(II) vacations, meals, lodging, tickets to the- ater or sporting events, stocks, bonds, other securi- ties, and other similar items.’’. (b) EFFECTIVE DATE.—The amendments made by this section shall apply to amounts paid or incurred after December 31, 2017. SEC. 13311. ELIMINATION OF DEDUCTION FOR LIVING EXPENSES INCURRED BY MEMBERS OF CONGRESS. (a) IN GENERAL.—Subsection (a) of section 162 is amended in the matter following paragraph (3) by striking ‘‘in excess of $3,000’’. (b) EFFECTIVE DATE.—The amendment made by this section shall apply to taxable years beginning after the date of the enact- ment of this Act. SEC. 13312. CERTAIN CONTRIBUTIONS BY GOVERNMENTAL ENTITIES NOT TREATED AS CONTRIBUTIONS TO CAPITAL. (a) IN GENERAL.—Section 118 is amended— (1) by striking subsections (b), (c), and (d), (2) by redesignating subsection (e) as subsection (d), and (3) by inserting after subsection (a) the following new sub- sections: ‘‘(b) EXCEPTIONS.—For purposes of subsection (a), the term ‘con- tribution to the capital of the taxpayer’ does not include— ‘‘(1) any contribution in aid of construction or any other contribution as a customer or potential customer, and ‘‘(2) any contribution by any governmental entity or civic group (other than a contribution made by a shareholder as such). ‘‘(c) REGULATIONS.—The Secretary shall issue such regulations or other guidance as may be necessary or appropriate to carry out this section, including regulations or other guidance for deter- mining whether any contribution constitutes a contribution in aid of construction.’’. (b) EFFECTIVE DATE.— 26 USC 118 note. 26 USC 162 note. 26 USC 274 note. 26 USC 274. VerDate Sep 11 2014 10:09 Oct 18, 2018 Jkt 079139 PO 00097 Frm 00080 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL097.115 PUBL097 dkrause on DSKBC28HB2PROD with PUBLAWS